The Canadian dollar has rallied in recent weeks; WTI hit a multi-year high on Mideast tensions; Heavy oil discount has narrowed substantially; US oil drillers added 7 more rigs last week; Canadian drillers well into spring break up
Heavy oil prices have recovered in recent weeks; Crude inventories fell by 4.6 MMB last week; US gas production hit a record high
US gas production hits new high; Canadian rig count falls with breakup; Strong YTD US refinery utilization
The DJIA fell 5.7% last week; US crude stocks are at a deficit to the 5-yr avg; US LNG exports are up 1.1 Bcf/d YTD
